More French Companies to Invest in Nigeria

Efforts by the Federal Government of Nigerian to attract foreign investors is yielding positive results as a group of French companies have indicated interest in investing in the country.

Phillippe Labonne

The group is led by Phillippe Labonne, deputy CEO of Bollore Transport and Logistics and vice chairman of the Africa Committee of MEDEF International, a French business confederation representing 75 per cent of the private sector in France.

Speaking on why the group is coming to Nigeria at a press briefing held in Lagos, Labonne said: “Nigeria is a land of investment and opportunities for French companies through local partners.”

According to Labonne, the 30-participant business mission represents large, medium and small sized companies interested in the many opportunities offered by the Nigerian market. The team is also meeting public authorities, private sector representatives and French business community in Nigeria.

The MEDEF Africa committee vice chairman believes that working hand in hand with French companies can be a source of constant and long-lasting improvement of the quality of Nigerian economic growth, “by bringing to our local partners what makes us different: local content, training, innovation and knowledge transfer.”

Jack Tcherniavsky, a business development manager said the investors are not bothered about insurgency and corruption in the country because “we know government is doing great works in tackling them. Boko Haram is in the North. About corruption, It is a pity to say that corruption is everywhere in Africa even in Europe, but we will have to deal with that. So we are not really bothered,” he said.

A wide range of sectors are represented in the business mission. They include oil and gas, health, transportation, aerospace, banking and finance, energy, security, agriculture and engineering.